News & Publications

In Short The Situation. In Ritzen Group, Inc. v. Jackson Masonry, LLC, the U.S. Supreme Court considered whether bankruptcy court orders conclusively denying relief from the Bankruptcy Code's automatic stay are immediately appealable. The Result. On January 14, 2020, the Court unanimously ruled that an order conclusively resolving a motion for relief from the automatic stay was immediately appealable, such that a later-filed appeal was untimely and must be dismissed. Looking Ahead. The decision provides important [...]

On December 12, 2019, the Sixth Circuit issued an opinion1 in the ongoing bankruptcy proceedings of FirstEnergy Solutions Corp. The decision upheld the ability of a bankruptcy court to decide whether a power purchaser in bankruptcy proceedings can reject FERC-approved power purchase agreements (PPAs). In exercising that power, the court found that the bankruptcy court must consider the public interest, and must invite FERC to participate and provide its opinion on the issue, but that the [...]

Kramer Levin continues to be a leader in the retail restructuring space. Building off significant recent representations in, among other retail matters, Nine West, Payless, Neiman Marcus, Toys “R” Us and Gymboree, Kramer Levin was selected as counsel to the Official Committee of Unsecured Creditors of Forever 21 and its affiliates, which filed for Chapter 11 protection in Delaware on Sept. 29, 2019. Forever 21 is a specialty fashion retailer of women’s and men’s apparel [...]